The time has come and it is running down to the wire where you need to get your tickets for the Powerball drawing that happens late on Saturday, March 9, 2013. It's been a while since anyone has won the Powerball, and the jackpot for matching all five numbers and the Powerball is $150 million.
While no-one ended up winning the jackpot in the recent drawing on Wednesday, there were eight tickets sold to Powerball players that matched five numbers. With that being said, these players won a million dollars and are surely smiling all the way to the bank.
With the pot up to $150 million, one person matching the winning numbers will be able to take a lump payout of $95.2 million. That is before taxes, but it's still more than enough to be set for life. There is the option to take payments over 29 years and receive the entire $150 million if you don't choose to take the lump sum.
Be warned though. If for some reason you don't make it through 29 more years, the payments stop automatically.
The odds of winning $1 million in the Powerball are one in 5.1 million. Winning the Powerball jackpot is a bit more drastic as it widens to one in 175 million.
Richard Lustig is a seven-time lottery winner from Florida. While his tips won't definitely work for everyone, he does have some advice on just how to win:
- Do research: Go online and make sure the numbers you choose have never come up before.
- Buy with a plan: Commit to your numbers and learn what numbers to play and when.
- Choose your own numbers: Don't let the machine do it via a quick pick.
- Don't get caught up in the thrill: Just because the jackpot is big doesn't mean you have to spend more money. Spend no more than you normally do.
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